Towards the conclusion of August, Bitcoin validated an overextended decline in its monthly stochastic indicator, a warning sign that has historically coincided with market pinnacles.
The report noted that the news of SpaceX, led by Elon Musk, writing off a portion of its Bitcoin holdings in the previous quarter, played an added role in fueling the correction within the cryptocurrency markets in August.
Taking inspiration from Sam Bankman-Fried, the CoinDesk team collectively gathers their fears, anxieties, and letdowns through crowdsourcing - all for your entertainment!
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